Estate repossession issue

[Cdgrill118]

New Jersey


Hi all, this is our issue:

My mother passed away last year and left an outstanding mortgage unpaid with negative equity in the estate. This was a condo in an adult community. Sadly none of my family can afford to pay the mortgage so it has to go into foreclosure. We've spoken to the bank that has the title to the property and explained out situation. They told us they would go through the normal foreclosure process.
Today, my sister, brothers, myself, and all our spouses received paperwork explaining that we're being sued by the mortgage company.
My question(s) is this: is this the normal procedure that a bank has to follow in order to properly take control of the property? Can my siblings and myself, plus our spouses actually be sued and made to pay the balance of the unpaid mortgage? My sister was named executrix, with my brothers and myself listed as alternates. None of our names are on the mortgage, or any outstanding bill that she had. No one co-signed anything of hers. We checked with a real estate agent who informed us that the home she owned is going for much less than she owed out, which is why we're claiming negative equity.

If anyone needs more information, please let me know. Thank you

Chuck

 

[justalayman]

I suspect why you are being sued is that the mortgage holder will sue all that hold an interest in the property. It has nothing to do with owing the debt but to ensure that anybody that holds an interest in the property is included so the court can properly severe their interest.

 

[Cdgrill118]

I suspect why you are being sued is that the mortgage holder will sue all that hold an interest in the property. It has nothing to do with owing the debt but to ensure that anybody that holds an interest in the property is included so the court can properly severe their interest.

Ok, that makes sense. Thank you. As far as responding to the court, is that something that is necessary to do or is our silence by not responding sufficient?

Also, if we do respond should we specifically state that we do not have any interest in the property?

 

[LdiJ]

Ok, that makes sense. Thank you. As far as responding to the court, is that something that is necessary to do or is our silence by not responding sufficient?

Also, if we do respond should we specifically state that we do not have any interest in the property?

Your silence is sufficient.